The aim of this study was to analyze the financial perfor-mance and stability of company A and company B during the period from 2020 to 2024. Using the EMS model and BEX index, key indicators of profitability, liquidity, leverage, and asset turnover were assessed. Results show that company B achieved higher ROA (3.96-6.95%) and ROE (8.09-12.26%), with stable liquidity and reduced leverage, whereas company A recorded lower results and greater reliance on external financing. The analysis also indicates strong long-term sustainability for company B and moderate financial risk for company A. The study highlights the need for cost optimization, strengthening the capital structure, and continued monitoring of liquidity and profitability in the logistics sector. These findings provide practical guidance for strategic management and future growth planning in logistics companies.

A dedicated spine team is more efficient and improves perioperative outcomes in idiopathic scoliosis surgery: A propensity score-matched study.

Financial sustainability of small and medium-sized enterprises (SMEs) is a critical component of sustainable tourism development, particularly in emerging tourism destinations. However, SMEs in the hotel sector often face significant financial challenges. This study aims to investigate the financial problems encountered by SME hotels in Şanlıurfa and propose potential solutions to these problems. A structured questionnaire was administered to 42 business owners and managers to assess their perceptions of various financial issues, the use of external financing, access to bank loans, and financial planning habits. The findings reveal high interest rates, foreign exchange rate fluctuations, lack of equity capital, and difficulties in obtaining credit are the most critical financial challenges faced by these companies. In addition, bank loans are the predominant external financing instrument, with a strong preference for short-term credit. Key obstacles to effective bank loan utilization include a lack of transparency, insufficient financial knowledge, and deficiencies in financial documentation. The study suggests that public support should be strengthened to improve financial literacy and planning among SME hotels, offering valuable insights for industry and literature in advancing sustainable tourism.

Despite remarkable progress in performance management and results reporting, many nonprofit initiatives fail to sustain their outcomes once external funding ceases. This literature-based study synthesizes secondary global evidence,from OECD, the World Bank’s Independent Evaluation Group (IEG), ICAI (UK), USAID, ALNAP, and academic works on adaptive management,to explain why. It identifies three interconnected drivers of post-funding failure: impact obsession, the incentive paradox, and institutional burnout. These forces reward short-term, measurable “impact” while undervaluing the less tangible work of institutionalization and local ownership. The paper proposes an endurance-oriented reframing of success, emphasizing sustainability indicators, incentive realignment, and lean compliance.

Background: East Africa’s employment deficit is, at root, a productivity deficit: firms must scale, upgrade, and withstand shocks to absorb the region’s rapidly growing labour force. Yet most diagnostics still treat obstacles—electricity, finance, regulation, corruption—as isolated factors, masking the compound frictions that stifle growth. Purpose: This article develops and tests the Constraint-Interaction Capability Model (CICM), which recasts the business environment as a network of interacting constraints whose joint effects are mediated by firm capabilities and governance integrity. Design: A convergent-parallel design combines (i) a PRISMA-2020 systematic review accelerated with natural-language processing, and (ii) comparative analysis of World Bank Enterprise Surveys for Rwanda 2023, Tanzania 2023, and Kenya 2018. Network metrics identify leverage points; seemingly unrelated regressions estimate marginal impacts; results are triangulated with causal studies. Results: Outage incidence ranges from 34 percent (Tanzania) to 81 percent (Kenya), and a one-standard-deviation reduction in outage hours predicts a 6.8-percentage-point increase in annual sales growth (p < 0.01). Access to external finance raises employment growth, especially among micro- and small enterprises, but its effect is halved where outage exposure is high. Network centrality scores place electricity reliability (0.34) ahead of finance access (0.27) as the most influential constraint. Cross-country profiles reveal distinct “constraint configurations,” underscoring the limits of one-size policy packages. Conclusions: Constraints act as an interacting system; reforms that ignore these interactions deliver muted productivity and job dividends. CICM offers a replicable framework for selecting reform bundles—reliability, finance deepening, and polycentric governance—that maximise joint gains in sales and employment while enhancing resilience to climate-linked shocks. The approach aligns with the World Bank’s B-READY agenda and provides an evaluative template for future Enterprise-Survey waves.

Recent shifts in the global health funding landscape-most notably the dismantling of the United States Agency for International Development (USAID) and possible reduced contributions to the Global Fund to Fight AIDS, TB, and Malaria (Global Fund)-threaten essential tuberculosis (TB) services in low- and middle-income countries (LMICs). We quantified the potential impact on the household economic burden of TB. We used linked epidemiological and economic models, calibrated to 79 LMICs, to estimate future TB patient costs under six scenarios: continuation of 2024 funding levels (baseline), termination of USAID, termination of USAID plus announced reductions in Global Fund contributions from the USA alone, termination of USAID plus complete termination of Global Fund contributions from the USA alone, termination of USAID plus announced reductions in Global Fund contributions from all donor countries contributing 1% or more to the budget, and full elimination of external funding for TB. Outcomes included total TB-attributable household costs and numbers of households experiencing catastrophic costs (disease-related costs >20% of annual income). USAID termination was projected to produce US$7.5 (95% uncertainty interval: $6.1-8.9) billion in additional patient-incurred costs and 3.9 (3.1-4.6) million additional households experiencing catastrophic costs over 2025-2050. The worst-case scenario (elimination of all external funding) resulted in $79.7 ($60.0-99.2) billion in additional patient-incurred costs and 40.5 (30.9-50.7) million additional households experiencing catastrophic costs-a 32% increase over baseline. Impacts were greatest for poorer households, with over 50% of additional catastrophic costs occurring in the poorest 20% of households. This analysis is limited by substantial uncertainty regarding costs faced by untreated patients and assumptions of constant patient costs and uniform treatment reductions over time. Abrupt reductions in international donor funding for TB may reverse recent progress toward financial risk protection and health equity in LMICs. Strategies to reduce the disruption caused by funding cuts and protect vulnerable populations are urgently needed.

Nearly 300 million people globally require humanitarian assistance, primarily due to conflicts and complex emergencies (CE). Modern conflicts are increasingly prolonged, deadly and frequent, severely disrupting health systems and hindering the provision of quality tuberculosis (TB) care. Managing drug-resistant TB (DR-TB) in these settings is particularly challenging. War and post-war conditions could potentially amplify resistance. However, evidence on DR-TB in CE-affected countries remains scarce. A scoping review, including grey literature and consultation with implementing agencies, was conducted to analyse published experiences worldwide in delivering DR-TB care in CE. The review included 16 peer-reviewed articles and 11 reports. Countries affected by war exhibit multiple risk factors for amplifying TB resistance. DR-TB management in CE is ongoing, yet diagnostic access is limited, with notification rates below 20% of estimated cases. Treatment success rates among those diagnosed are comparable to global averages. Innovative approaches, such as molecular tests, shorter regimens and patient-centred approaches, have achieved higher success rates. Information on vulnerable populations, including internally displaced persons, prisoners and children, remains minimal. Only one country had reliable information on DR-TB in prisoners (Iraq), accounting for one-third of the national resistant cohort. Most CE countries rely on external funding for DR-TB programmes. Like in other infectious diseases, war significantly alters DR-TB dynamics in affected countries and bordering or refugee-hosting countries, threatening progress towards TB elimination and exacerbating the global antimicrobial resistance crisis. While innovations have improved the feasibility of DR-TB care in CE, access remains severely constrained. Identified risk factors, challenges and priorities underscore the need for expanded TB support and targeted research, particularly for vulnerable populations in CE scenarios.

Health systems globally face increasingly complex, multifaceted challenges, cross-cutting many of which is multimorbidity. While rising tomultimorbidity has been aslow and incrementalprocess, the recent US funding cuts and rupture of vertical disease programmes may be a pivotal moment for health systems to become at once more integrated, adaptive and self-relianttowards this end. This article considers learning health systems (LHS) as a framework for building such systems, with multimorbidity a core priority and focal point for operationalizing LHS in practice. To illustrate, we draw from an interdisciplinary initiative to catalyse and evaluate a multimorbidity-learning health system in Zimbabwe, centred on three domains of sociotechnical infrastructure: reengineered electronic health records (EHR) to integrate and democratize parallel research, data and decision-support systems; deliberative platforms to support multi-condition sense-making and knowledge translation; and investment in learning sites at service delivery level to facilitate the practical development and iteration of integrated treatment and prevention models. Strategies to build LHS must necessarily be tailored to particular contexts. However, the infrastructural domains and specific mechanisms presented may be valuable for many lower-income countries seeking to emerge from the current funding crisis with the in-house learning capabilities needed to address the complex needs of older, multimorbid populations with less external funding and technical support.

ABSTRACT Global increases in meat production have intensified interest in alternative livestock systems that can address environmental, social, and economic challenges. Transitioning toward sustainable livestock (SL) systems requires adaptive governance arrangements that integrate local knowledge into broader policy design. Yet, in Latin America, such transitions are constrained by institutional weakness, sectoral antagonism, and informal power relations. This article analyzes the adaptability of multilevel governance for SL initiatives in Jalisco, Mexico (2016–2024), a key REDD+ implementation area. Using document analysis, interviews, and workshops with government and non‐government actors, the article examines how intersectoral collaboration, learning, and legitimacy evolved across governance levels. The findings show that adaptive governance emerged through informal coordination among environmental and forestry authorities, and civil society actors, supported by local learning platforms such as livestock field schools. However, limited engagement of agricultural authorities, reliance on external funding, and fragmented mandates constrained polycentricity and institutional integration. Despite actors' use of diverse labels—sustainable, regenerative, or low‐emissions livestock—collaboration converged on the shared goal of sustainable rural development. Adaptation occurred primarily through social learning and local brokerage rather than formal institutional reform, revealing both the potential and limits of adaptive governance under conditions of sectoral asymmetry. The study advances adaptive governance and policy implementation research by demonstrating how collaboration, learning, and legitimacy coevolve within fragmented, low‐capacity governance settings typical of the Global South.

Can a single-step warming protocol for vitrified blastocysts provide comparable or superior outcomes to a conventional multi-step warming approach in a clinical IVF setting? Single-step warming resulted in higher blastocyst survival, intactness, and transfer rates compared to the conventional multi-step protocol, with comparable ongoing pregnancy rates and a consistent trend toward lower miscarriage rates across all subgroups. While vitrification has become the gold standard for embryo cryopreservation, the warming process remains critical to embryo survival and implantation potential. Traditional warming relies on multi-step dilution protocols to minimize osmotic stress. Preliminary studies have suggested that single-step rehydration protocols may be equally effective, but data on clinical validation remain scarce. A three-phase validation study was conducted at a single university-based IVF centre including (i) risk analysis, (ii) preclinical validation (n = 246 blastocysts), and (iii) a clinical comparison of outcomes over one year (March 2024-March 2025) between single-step warming (n = 1925 cycles) and the conventional multi-step protocol (n = 1744 cycles, March 2023-March 2024). In the preclinical phase, vitrified surplus and PGT blastocysts were rewarmed using the single-step protocol and compared to historical controls. Survival (≥50% intact cells), intactness (100% intact), and transfer suitability were assessed. Single-step warmed blastocysts were monitored for 24 h post-warming in a time-lapse incubator, and viability was further evaluated using live/dead fluorescent staining to quantify cell damage. In the clinical phase, outcomes (survival, transfer rate, pregnancy, ongoing pregnancy, miscarriage) were retrospectively compared across protocols, stratified by PGT status and day of vitrification. In the preclinical phase, blastocyst survival was ≥50% in 99.1% of cases after single-step warming versus 96.8% after multi-step warming (P = 0.0924). Fully intact blastocysts were significantly more frequent in the single-step group (85.4% vs. 76.3%, P = 0.0058), and transfer suitability at 2 h post-warming was also higher (96.7% vs. 91.2%, P = 0.0076). Time-lapse monitoring confirmed a high re-expansion rate (93.9%) with a mean re-expansion time of 3.3 ± 2.7 h. Fluorescent viability staining showed that 90.5% of blastocysts exhibited no or minimal cell damage. In the clinical cohort, significantly higher survival rates were seen in the single-step group across multiple subgroups, including non-PGT Day 5 (98.5% vs. 96.1%, P = 0.0003) and PGT Day 5 (100% vs. 98.2%, P = 0.0407) blastocysts. Fully intact rates were significantly higher in all subgroups and transfer rates were significantly higher in the single-step group for non-PGT Day 6 (97.2% vs. 92.8%, P = 0.0060) and PGT Day 5 cycles (100% vs. 97.8%, P = 0.0209). While some early pregnancy outcomes (e.g. clinical pregnancy in non-PGT Day 5) favoured the multi-step protocol (40.5% vs. 35.7%, P = 0.0286), ongoing pregnancy rates were not significantly different in any subgroup. Miscarriage rates showed a consistent trend in favour of single-step warming but did not reach statistical significance. This was a single-centre study, and the control group was retrospective. The single-step warming protocol is a clinically validated, safe, and efficient alternative to conventional multi-step warming. Its implementation may improve workflow and streamline blastocyst handling without compromising clinical outcomes. No external funding was received. The authors declare no conflicts of interest apart from KT, who has received travel support related to the manuscript from Fuijifilm Irvine Scientific, in the form of payment to her institution. N/A.

The purpose of the article is to identify, systematise and typologise the tools and macroeconomic challenges to the sustainability of public finances in the context of the current struggle for Ukraine's independence (the Russian-Ukrainian war) and the European integration orientation of the ontogenesis of the system for managing them. Methodology. The methodology is based on a multi-approach that combines empirical data on the structural and qualitative parameters of the functioning of the public finance system, econometric modelling of its parameters, and a "heat matrix" for visualising and developing practical recommendations for ensuring the sustainability of public finances during the Russian-Ukrainian war. Results. Empirical research has shown that defence spending has the greatest impact on the structure of state budget expenditure, with each increase of 1 billion UAH leading to an increase in total expenditure of 1.32 billion UAH (β₃ = 1,3178, p = 0,005). A comprehensive correlation analysis of macrofinancial indicators confirmed the high dependence of tax revenues on the macroeconomic context (r ≈ 0.99) and an inverse correlation between defence spending and the budget balance (r ≈ -0.61), which demonstrates the mechanism of deficit formation in conditions of armed conflict. Based on forecast models, it has been established that the budget deficit could be reduced from 20.4% of GDP in 2024 to 4.5% in 2027, provided that international financial support for Ukraine's sovereignty and its European integration aspirations remains united. Practical significance of the study. The developed integrated model for assessing the sustainability of public finances provides public authorities with scientifically sound recommendations on optimising the allocation of fiscal resources and attracting domestic and external sources of financing in extreme conditions marked by armed conflict. The set of macro-financial indicators and approaches to monitoring fiscal risks proposed in the study serves as a practical tool for the rapid assessment of critical changes in public finances and the timely adjustment of budgetary and tax policies, taking into account the triggers identified in sectoral documents that determine the architecture of the public finance management system. The scientific novelty of the study lies in the construction of a comprehensive model for assessing the sustainability of public finances, adapted to the extreme conditions of armed conflict, which synthesises econometric modelling with multifaceted correlation analysis. A key innovation is the establishment of the fact that fiscal sustainability depends not only on orthodox debt and deficit indicators, but also on systemic interaction, expressed through the transmission mechanism of the tax base, the volume of external financing and the structure of budget expenditures. This corresponds to the conditions of the new normal in public finance and is in line with Ukrainian academic discourse on assessing the sustainability of public finances, taking into account the needs of early post-war recovery.

Abstract Background: The ECOG-ACRIN Tomosynthesis Mammographic Imaging Screening Trial is a clinical trial being conducted to determine if tomosynthesis (TM) should replace digital mammography (DM) for breast cancer screening based on the impact of the use of each technology on the number of advanced breast cancers in the population of women being screened over several years. If TM is better at finding the types of cancers that are most likely to lead to mortality, the population screened with TM would be expected to have fewer of these types of cancers over time compared with the population screened with DM. TMIST also includes secondary aims in the areas of imaging assessment, medical physics, breast biology and pathology, long-term follow-up, and health care utilization. Besides collection of demographic and clinical information, the study also has a collection of TM and DM screening mammograms, blood and buccal samples, and pathology diagnostic slides and tissue blocks. Methods: Asymptomatic women ages 45 to 74 were enrolled into TMIST across 133 sites located in the United States, Canada, Argentina, Italy, Peru, Chile, South Korea, Spain, Taiwan, and Thailand. At the time of enrollment, women were randomized to undergo screening mammography with either TM or DM annually or biennially based on risk factors for their first 5 years on the study with up to 3 additional years of long-term follow-up under their routine breast screening protocols. Pathology materials for all enrolled women who undergo biopsy or surgery are being collected. Tissue blocks collected will undergo PAM-50 analysis, plus an immune signature. TMIST participants also voluntarily can contribute blood and/or buccal smears to the TMIST biorepository. Update: TMIST met the study accrual goal of 108,508 in December 2024. 21% of the United States participants are African American, with 49% Hispanic participation worldwide. 68.1% of TMIST participants have opted to provide buccal smears, and 66.5% have opted to provide blood to the biorepository. The study will complete follow-up in December 2027. Two ancillary studies not dependent on study endpoints with separate external funding are underway. The first active ancillary project is a study aimed at increasing participation of African American TMIST participants in the biospecimen sub-study of TMIST. New educational materials were developed to provide more information about the purpose of biospecimen collection within TMIST and the process of collecting blood and buccal samples. We are tracking the number of women approached with the new information and providing a patient incentive for those participants who re-consent and provide the samples in this sub-study. Three sites are currently participating that have large numbers of African American TMIST participants who initially declined to participate in the biospecimen collection sub-study. The first site began approaching eligible TMIST participants in April 2025. The sub-study continues through 2026. The second active ancillary project utilizes a case-control design to determine whether lower compression pressure applied during screening mammography correlates with interval cancers. The study is the first in TMIST to utilize selected imaging data and limited clinical information in a protected enclave. No images or data leave EA systems, with an external algorithm being applied to images by staff managing the TMIST imaging archive and statistical analysis being performed by the EA TMIST statistical team. There are multiple additional ancillary projects that are in development that are using TMIST data to 1) estimate the value of AI algorithms that predict short-term risk of breast cancer, 2) assess the rate of overdiagnosis, and 3) aid in the development of individualized screening recommendations (which also will use data from All of US), and others. Citation Format: E. Pisano, C. Gatsonis, M. D. Schnall, M. A. Troester, E. Cole, J. Cormack, J. Steingrimsson, I. F. Gareen, M. Yaffe, L. C. Collins, A. Curtis, R. Carlos, K. D. Miller, C. Comstock. ECOG-ACRIN tomosynthesis mammographic imaging screening trial (TMIST): Update for 2025 [abstract]. In: Proceedings of the San Antonio Breast Cancer Symposium 2025; 2025 Dec 9-12; San Antonio, TX. Philadelphia (PA): AACR; Clin Cancer Res 2026;32(4 Suppl):Abstract nr PS5-07-19.

This research extends the Pecking Order Theory to an international business setting, providing novel insights into corporate finance within a global context. The study posits that firms prioritize internal financing through retained earnings before seeking external financing, such as debt or equity. By integrating attributes of internationalization, this research examines how the degree of internationalization of multinational firms influences their financing decisions, with a focus on the moderating role of international business factors. Analyzing data from 785 companies listed on the Hong Kong main board from 2010 to 2020, the study reveals that the breadth of internationalization supports the traditional pecking order, while the depth of internationalization encourages a reverse pecking order. Legal distance negatively moderates this relationship, while the structure of the financial system has a positive moderating effect. The findings suggest that multinational enterprises (MNEs) with greater overseas resource allocation exhibit enhanced flexibility in financing decisions, particularly in foreign markets with robust investor protection and efficient direct finance mechanisms.

Learning outcomes The learning outcomes are as follows: Case overview/synopsis This case study examines the strategic dilemma faced by Nothing Before Coffee, a fast-growing Indian café brand recognized for its culturally rooted, youth-focused appeal. Established in 2017 in Jaipur, Nothing Before Coffee disrupted the traditional café market by catering to underserved Tier II and III cities with accessible pricing, distinctive offerings like the “Shrappe,” and visually engaging store designs. By 2025, Nothing Before Coffee had expanded to over 90 outlets, entered the international market with a store in Portugal, and adopted a company-owned, company-operated model to maintain brand consistency. However, its ambitious goal of scaling to 400 outlets in two years presented a challenge – how to achieve rapid expansion without losing authenticity or becoming indistinguishable from other chains. This tension was further compounded by the need for external funding, operational efficiency and navigating diverse consumer expectations across urban and international markets. Through Anand Jain’s strategic considerations, the case explores the complexities of balancing growth with brand identity, investor expectations with customer loyalty and operational scale with cultural relevance. It provides a strong foundation for discussions on strategic expansion, brand positioning and managing purpose-driven businesses in competitive emerging markets. Intended for upper-level undergraduate and MBA courses in Strategic Management and Marketing, this case enables students to engage with real-world challenges of scaling a brand while preserving the distinctive elements that made it successful. Let me know if you need any refinements! Complexity academic level This case study is suitable for undergraduate and postgraduate courses such as Strategic Management and Marketing Management in MBA and BBA programs. It is also applicable to students studying Retail Management, Operations Strategy and Consumer Behavior. With a moderate level of difficulty, the case allows students to explore strategic decision-making in the rapidly growing Indian Quick Service Restaurant industry, especially within emerging market contexts where growth aspirations must be balanced with brand identity and operational capability. Supplementary materials Teaching notes are available for educators only. Subject code CSS 11: Strategy.

Health care utilization and self-reported health status among US cancer survivors by rurality and area deprivation.

Purpose This systematic literature review investigates how multimodal instructional design in asynchronous e-learning environments influences motivation, engagement and knowledge retention amongst adult learners. Grounded in cognitive load theory (CLT), the review explores how digital instructional strategies can be optimised for inclusive and cognitively efficient learning in the context of technical and vocational education and training (TVET) and post-compulsory education, within the human-centric framework of Industry 5.0. Design/methodology/approach Fourteen databases were searched for peer-reviewed English-language studies published between 2019 and 2024. Sixty-five studies met the inclusion criteria focusing on adult learners, multimodal strategies and asynchronous digital delivery. Study quality was appraised using the CRAAP framework. The thematic synthesis was situated within an interpretivist paradigm and analytically framed by CLT. Findings Six core themes emerged: inconsistent instructional design; barriers to lifelong learning; motivation and engagement challenges; continued reliance on learning-styles approaches; the cognitive benefits of multimodal strategies and limited attention to workplace learners. Findings reinforce the value of CLT-aligned multimodal design for improving engagement, retention and inclusivity, while highlighting the need for more context-sensitive and practitioner-informed approaches. Originality/value This review addresses the under-representation of adult and TVET learners in asynchronous, multimodal e-learning pedagogy research, offering practical and theory-informed insights for educators, instructional designers and learning-and-development professionals. Although the evidence base is still emerging, particularly regarding longitudinal workplace studies, the review provides new direction for inclusive, cognitively efficient instructional design. No external funding was received, and the review was not pre-registered.

In the Inner Niger Delta, socio-spatial transformations have profoundly reshaped relationships between communities and natural resources, intensifying tensions around access and management. In this context, local conventions (LCs) have emerged as essential instruments of social and environmental regulation in response to resource degradation, climate variability, competition over land, water, and pastures, and persistent insecurity. This study investigates the role of LCs in enhancing natural resource governance and peacebuilding. Using qualitative methods, the research involved 7 focus-group discussions and 11 interviews across three communes in the Mopti Region, Mali. The findings highlight how LCs, developed through a participatory and inclusive process anchored in Mali's decentralisation legal framework, facilitate dialogue among diverse stakeholders and establish negotiated rules for access to and use of natural resources, thereby reducing tensions over resource use and clarifying the rights and responsibilities of different user groups. Yet, challenges remain, such as dependence on external funding and insufficient local capacities. LCs emerge as vital tools for mitigating conflicts in natural resource management and promoting inclusive governance. Their sustainability depends on strengthening local ownership and capacities while integrating more equitable institutional frameworks to ensure their long-term effectiveness.

Against the backdrop of global industrial chain restructuring and heightened uncertainty risks, enhancing supply chain resilience is central to ensuring high-quality development in manufacturing. Drawing on microdata from Chinese A-share manufacturing listed companies from 2011 to 2024, this study empirically examines the impact of corporate digital transformation on manufacturing supply chain resilience and its underlying mechanisms. Findings reveal: First, corporate digital transformation exerts a significant and robust direct positive effect on manufacturing supply chain resilience, a conclusion that holds after multiple endogeneity tests including time window shortening and instrumental variables methods. Second, mechanism tests indicate that digital transformation indirectly enhances supply chain resilience through two mediating pathways: alleviating financing constraints and reducing market competition intensity. Specifically, digital transformation enhances corporate information transparency and operational efficiency, thereby reducing external financing costs and alleviating excessive market competition pressures. This creates a more favorable financial and market environment for strengthening supply chain resilience. Third, heterogeneity analysis reveals significant industry differences in the enabling effects of digital transformation, with its promotional impact being particularly pronounced in high-tech, low-pollution, and highly competitive industries. This study provides micro-level evidence for understanding the dual "financial-market" pathways through which digital transformation empowers manufacturing resilience. It offers important implications for formulating targeted digital transformation policies, optimizing corporate financing environments, and guiding healthy market competition to systematically strengthen supply chain resilience.

ABSTRACT Drawing on the optimal distinctiveness theory and utilizing a sample of Chinese family listed firms spanning the period from 2009 to 2024, this study examined the impact of strategic corporate social responsibility on green innovation in family businesses. We found that, firstly, the implementation of strategic corporate social responsibility by family businesses is conducive to the development of green innovation. Secondly, policy-oriented and market-oriented media attention both strengthens the positive relationship between strategic CSR and family businesses’ green innovation under institutional legitimacy pressures, with policy-oriented media attention having a stronger moderating effect. Thirdly, mechanism tests reveal that strategic CSR promotes the green innovation development of family firms mainly by ‘external information transmission’ to obtain more external financing support, and by ‘strengthening internal governance’ to alleviate principal-agent problems and improve internal control levels. In addition, cross-sectional heterogeneity analysis shows that the promotion effect of strategic corporate social responsibility on green innovation is more significant in the stage of non-intergenerational succession, the manufacturing industry, and regions with a high degree of marketization. These findings provide implications for family businesses on how to seize development opportunities and successfully achieve green transformation and upgrading.

Recent reductions in U.S. global health funding have disrupted essential programs in sub-Saharan Africa (SSA), highlighting the region's vulnerability to external financing shocks. The suspension of USAID initiatives has affected disease control, maternal care, and health system operations across 47 countries, raising urgent questions about how to sustain progress without reliable donor support. This commentary examines the potential of Public-Private Partnerships (PPPs)-structured collaborations in which governments and private actors share financing, risk, and managerial responsibility-to strengthen domestic capacity. Drawing on examples from Senegal, Nigeria, and Kenya, we explore how service, concession, financing, and technology-focused PPPs can mobilize additional resources, expand access, and improve service delivery. We also address key challenges, including governance risks, fiscal constraints, and shifting global power dynamics. While not a substitute for aid, well-designed PPPs aligned with national priorities can support more resilient, equitable, and self-reliant health systems in SSA.